Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank senators who have contributed to this debate very much. The war in the Middle East is battering the global economy. Oil prices today are around twice what they were at the start of 2026 as a result of that conflict. This bill will deliver temporary and targeted support to Australian motorists and truckies in a responsible way. The schedules in the bill will temporarily halve the fuel excise for petrol and diesel and facilitate changes to the heavy vehicle road user charge to allow it to be reduced to zero temporarily. Halving the fuel excise will cut 26.3c a litre off the cost of petrol and diesel. Including the reduction in the GST component, this will cut the cost of a 65-litre tank of fuel by nearly $19. Reducing the heavy road user charge to zero will save truckies around $130 on a 400-litre tank of fuel.

The bill also provides additional flexibility to make further adjustments to the rate of excise, if needed, to give effect to the undertaking from the states at the National Cabinet on GST. The government's focus is on easing cost-of-living pressures, securing our fuel supply and getting it to where it's needed the most. The steps we're taking in this bill today are in addition to all of the actions we've already taken to date to support supply and distribution and empower the ACCC to crack down on misconduct. I commend the bill to the Senate.